July 26, 2024
SMS marketing has been revived, and businesses would be more interested in implementing this strategy to collect user data directly from customers. They can reveal products via SMS with the help of Mailerlite and Mailerlite alternatives, give their products on discount, connect with their users, etc. Despite all that, it is not solely about sending mindless messages. Companies must, therefore, have clear marketing strategies, avoid spamming customers, and ensure that a customer can at any point opt out of receiving such texts.
The e-commerce explosion happened some years ago, and it definitely isn't slowing down. By 2023, the global sales turnover of e-commerce reached as high as $5.8 trillion, while in 2025, it is forecasted to be $6.9 trillion — Statista. With this kind of number, what, in particular, can be predicted for 2024?
With technology changing fast, consumer behaviours shifting, and undergoing a series of innovative marketing strategies bound to shape tomorrow's e-commerce, the future sure does seem interesting. In the following paragraphs, we will thoroughly investigate a few of these major trends and predictions for the coming year.
Artificial Intelligence and automation are something that has already made buzz in this very sector of e-commerce and will continue to make buzz in 2024. From personalised shopping experiences up to predicting customer behaviour, the management of the inventory is all done with the enigmatic presence of AI. For instance, AI-run chatbots are found in online stores, offering 24/7 customer services through answering questions in real time. Customer service of such form enhances the shopping experience and liberates human employees for more complex tasks.
On the other hand, automation is rapidly transforming the process of order fulfilment and inventory management. It enables an organisation to be able to process customer orders and send them out to be shipped very quickly. In this modern era, consumers demand that everything is delivered the next day. In 2024, expect to have even more retailers that use AI and automation to keep in competition.
Electronic commerce has to realise that m-commerce is threatening to take away a significant part of its strength. This is because 79% make purchase(s) through their mobile phones within a six-month period. The evidence of how mobile shopping is beginning to surface on the scene becomes evident. In 2024, the trend will only continue further as more consumers would shop with their phones for everything, from browsing to buying something.
Retailers are noticing and optimising their site interfaces for mobile access by customers. Obviously, that allowed more time to load their sites, friendly payment options, and easy navigating. Besides, apps are on the rise as brands create separate interfaces for their most loyal customers. Eventually, the growing volume of mobile commerce will culminate in increased innovation for mobile payment solutions and app-based shopping.
Sustainability is finally ceasing to be just a buzzword and scaling higher to take critical standing places within consumer decision-making processes. Eco-conscious shoppers will demand more from the brands they are buying from in 2024, from sustainable packaging to ethical sourcing of their materials. More consumers every day are ready to brace for the price and pay a premium for a product aligned with their value system, and companies that don't notice this won't even know what flew past them.
In the next few years, the trend of sustainability will boost aware shopping, with brands like online marketplaces offering options for carbon-neutral shipping and reducing waste in their supply chain.
Long gone is the day where social media was about posting pics and keeping up with friends; it's about to become a full-bore e-commerce beast. Experts predict social commerce, as facilitated by the likes of Instagram, Facebook, and TikTok, will drive an explosion by 2024. These social media firms have been adding shopping features directly into their apps, which allow their users to buy those products seamlessly—and without even leaving the apps.
It gains ground because people spend much time on social media. Brands thus can leverage this fact to their advantage by meeting consumers wherever they are found most of the time. Social commerce, with influencer marketing, also marries with the intense personalisation angle—where influencers can show off different products to their followers and establish genuine affiliations. Expect more brands to put resources behind social commerce strategies to go along with the trend.
E-Commerce customisation in 2024 will therefore become more important than it has ever been. Shoppers are no longer appeased by generic shopping experiences; they want all that is suggested and offered to them to be tailor-made to their character, personality, and individual preferences. With AI and data analytics, retailers are able to afford truly individualised experiences—it goes for product suggestions or marketing campaigns.
Personalisation – one of the ways companies are achieving this is by analysing customer data in order to understand their preferences and behaviours. For instance, a customer who frequently orders running shoes may receive emails showcasing the latest collections in footwear. Personalisation goes beyond showing products of interest; it also involves tailored customer service, whereby chatbots and AI-powered tools guide and respond to customers based on their purchase history. In 2024, the brands that come out on top will master the art of crafting personalisation.
The more e-commerce grows, the more critical data protection and security become. At this point in time, customers are so sensitive about what they share their data for and expect more transparency from the brands themselves. Companies should start focusing on the best ways to secure this kind of data to maintain consumers' trust in 2024. That is, effective security measures should be taken and its transparency should hold how data on the company's customers has been collected and employed.
Most evidently, as data privacy becomes a global issue, in Europe, GDPR, and in California, CCPA will be passable norms with heavy fines against brands that will not adhere to the same, not to mention the reputational damage run. Therefore, in 2024, data security and privacy shall remain paramount priorities for e-commerce. The vast majority of clients will be affiliated through their concern about their personal information.
Looking towards 2024, there are certain trends that will be crucial in forming the future of e-commerce:
These trends will define an e-commerce landscape for the year ahead. While these may vary from embracement of new technologies, sustainability, or personalisation, this key success factor will be in staying ahead of the curve come the year 2024.
As such, e-commerce is a dynamic, changing domain that is deemed to touch great levels according to the predictions up until 2024. Thus, by understanding and preparing for these trends, businesses can not only meet but exceed customer expectations, doing so, will consequently secure growth and success in the online marketplace.
